US businesses say Obama’s Budget 2016 tax proposals will harm economic growth

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US businesses say Obama’s Budget 2016 tax proposals will harm economic growth

President Obama unveiled his FY 2016 Budget plan at the start of February, seeking to replace the existing deferral system for US multinational companies and impose a minimum 19% tax on their foreign earnings, as well as charging a 14% tax on previously untaxed foreign income.

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